Interesting piece on Law 360 here by Howard Weissman all about mitigating FCPA risks with tailor made compliance.

In this piece Howard talks about how multinational companies should take a pragmatic approach to Foreign Corrupt Practices Act compliance by being aware of key risk areas - such as inappropriate gift-giving, liability for third-party actions, and countries with recurring corruption issues — and implementing custom-designed procedures that evolve with their operations.

I especially want to draw your attention to his point on how “90% of FCPA enforcement actions against companies involve a third party providing some service to a company.” This goes to show how essential it is to implement a robust procedure around third parties and actually made me think of our Digital Twin proposition here at A&M.

Through Digital Twin, we’re helping companies operationalise their compliance program using data analytics to measurably demonstrate effectiveness in line with regulator’s expectations.

A&M Digital Twin addresses the legal and compliance risks in client’s financial data bringing better transparency into:

  • Anti-bribery and anti-corruption
  • Sanctions and trade compliance
  • Fraud, waste and abuse
  • Third party risks and improper payments
  • Revenue recognition and customer/distributor risks
  • Conflicts of interests and segregation of duties
  •  Employee travel and entertainment

To find out more on Digital Twin contact Vincent Walden